Japan Economic Information
Central Bank: Bank of Japan (BoJ)
Currency: Japanese yen (JPY or ¥)
The world's 2nd largest economy, Japan is largely dependent on export growth. A population of almost 130 million makes Japan one the world's largest markets. Due to the BoJ's tendency for setting the country's interest rates low, the yen has been a popular currency with investors during the past decade to use for Carry Trades.
Key industries:
Among world's largest and technologically advanced producers of motor vehicles, electronic equipment, machine tools, steel and nonferrous metals, ships, chemicals, textiles and processed foods.
Agricultural products:
Rice, sugar beets, vegetables, fruit, pork, poultry, dairy products, eggs and fish.
Export commodities:
Transport equipment, motor vehicles, semiconductors, electrical machinery and chemicals.
Import commodities:
Machinery and equipment, fuels, foodstuffs, chemicals, textiles and raw materials.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 8/29/2010. These rates were not available to retail customers and were not the rates offered by EverBank. Past performance does not guarantee future results. |
A few factors to consider when evaluating the Japanese yen:
Reasons to consider
- Japan is the second biggest economy in the world.
- The Cabinet Office reported that Japan's 4th Q GDP rose at an annualized 3.8%.
- Figures for the last quarter 2009 showed that capital spending had risen 1%, while private consumption had risen 0.7%.
- Japan's income per capita remains significantly higher than that of China.
- Unemployment rate unexpectedly fell to a 10-month low in January as the economy added the most jobs in more than 30 years.
Risk factors to consider
- Many economists warn that deflation, widespread decline in prices, threatens Japan's long-term recovery.
- The country's declining population makes demand inherently weak, and falling wages and pessimism among the country's consumers has brought about a huge shortfall in demand.
- Public debit is approaching twice the size of its economy.
- The budget for 2010 is set to increase social welfare expenditures but cut investment in public works projects and other forms of government spending.
- The Business Survey Index (BSI) of sentiment of large businesses fell in Japan. The survey, which measures how businesses feel about economic conditions, recorded a fall
from -1.9 in the last quarter of 2009 to -2.4 during January-March.
- Japanese commercial land prices fell to the lowest in at least 36 years as developers faced tighter credit markets and the recession discouraged buyers.
How EverBank can help with your Japanese yen needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Basket CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Basket CD(s):
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrency® account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency and Pan-Asian are proprietary service marks of EverBank. All rights reserved.
